Brazil's Real, Ibovespa Lead World Losses Amid Political Crisis
- Court rules against lower house head's plan to oust Rousseff
- Data showing slowdown in Chinese imports add to pessimism
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Brazil’s real and stocks led declines among the world’s biggest markets as heightened political turmoil and data showing weakness in the nation’s top trading partner added to concern Latin America’s largest economy will falter.
The real dropped the most among the world’s 16 major currencies, and the Ibovespa halted a nine-day rally after a court ruling threatened to delay a resolution to efforts to impeach President Dilma Rousseff, clouding the outlook for the government. Stocks and the currency also joined a rout in emerging markets as a plunge in China’s imports underscored the headwinds to global growth.